Ponzi scam: Reddy arrested after marathon questioning

Mining Baron G Janardhan Reddy arrives at the CCB office in Bengaluru, on Saturday. Pic/PTI

Mining baron and former Karnataka Minister G Janardhana Reddy was arrested on Sunday after marathon questioning by the police in connection with a multi-crore Ponzi scam case, a top police officer said.

Reddy, whose whereabouts were not known and remained incommunicado since Wednesday till he appeared at the Central Crime Branch (CCB) police office on Saturday, was arrested after the questioning ended on Sunday morning, Additional Commissioner of Police (Crime) Alok Kumar told the media. Later, he was produced before the sixth additional chief metropolitan magistrate court, which remanded him in judicial custody till November 24.

The CCB had been on the lookout for Reddy, who was declared absconding by the police last week in connection with a transaction worth crores of rupees allegedly linked to the ponzi scheme fraud involving hundreds of crores of rupees. The intense grilling, which began on Friday afternoon, lasted till 2 am and continued on Sunday morning and Reddy had to sleep in the CCB office, police said. Before being produced in court, Reddy underwent a medical examination.

Nov 24
Day till when Reddy has been remanded in judicial custody

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